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Sean Quinn - NI Bankruptcy FAIL

  • 10-01-2012 01:04PM
    #1
    Sir Oxman
    Closed Accounts Posts: 8,490 ✭✭✭


    http://www.rte.ie/news/2012/0110/quinns.html
    The Irish Bank Resolution Corporation has succeeded in having Seán Quinn's bankruptcy status in Northern Ireland annulled.
    Judgement in the case at Belfast High Court was given by Mr Justice Donal Deeny this morning.
    The IBRC had argued that Mr Quinn's centre of main interest
    was in the Republic of Ireland and not north of the border.
    When he successfully sought bankruptcy status from the Belfast court in November, Mr Quinn claimed that he was operating from an office in Co Fermanagh.
    During its challenge last month the IRBC claimed that a European Directive that applies in insolvency cases stipulates that a person's centre of main interest has to be ascertainable to third parties, such as creditors.

    Now, get after those hidden assets and assets sold to his family for laptops.


«1345

Comments

  • #2
    That_Guy
    Registered Users, Registered Users 2 Posts: 51,342 ✭✭✭✭That_Guy


    Excellent.


  • #3
    Morlar
    Closed Accounts Posts: 9,273 ✭✭✭Morlar


    Proper order - serves him right.

    I think they need to look into this loophole to ensure it is not used in future.


  • #4
    Sir Oxman
    Closed Accounts Posts: 8,490 ✭✭✭Sir Oxman


    What about that other guy Grehan?
    Can they go after him I wonder?

    This could be a good week if Mahon actually publishes!


  • #5
    CardBordWindow
    Registered Users, Registered Users 2 Posts: 3,209 ✭✭✭CardBordWindow


    Poor Sean.


  • #6
    lazygal
    Registered Users, Registered Users 2 Posts: 12,644 ✭✭✭✭lazygal


    http://www.boards.ie/vbulletin/showthread.php?p=75418225

    Epic thread here. Merge perhaps?


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  • #7
    Sir Oxman
    Closed Accounts Posts: 8,490 ✭✭✭Sir Oxman


    lazygal wrote: »
    http://www.boards.ie/vbulletin/showthread.php?p=75418225

    Epic thread here. Merge perhaps?


    I actually meant to post this in politics or irish economy!
    mods feel free to do what you will


  • #8
    Skid
    Closed Accounts Posts: 9,872 ✭✭✭Skid


    Fair play to Mr Justice Donal Deeny for making the correct decision.

    This gives us a much better chance at clawing back some of the wealth The Quinn family have hidden around the World. Every little helps.


  • #9
    Sykk
    Closed Accounts Posts: 3,327 ✭✭✭Sykk


    Ahahahah yes!


  • #10
    joseph brand
    Registered Users, Registered Users 2 Posts: 4,540 ✭✭✭joseph brand


    My breakfast went down easier upon hearing this news.


  • #11
    Interceptor
    Registered Users, Registered Users 2 Posts: 3,165 ✭✭✭Interceptor


    Meh. Like Larry Goodman and others before and after him the Irish taxpayer will be footing the bill for generations. Its too late - write it all off and start again...

    'cptr


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  • #12
    smash
    Closed Accounts Posts: 34,808 ✭✭✭✭smash


    Skid wrote: »
    Fair play to Mr Justice Donal Deeny for making the correct decision.

    If only he could force the new investors to take the hit on the losses now so we wouldn't have to pay an insurance levy to cover them.


  • #13
    Biggins
    Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    Skid wrote: »
    Fair play to Mr Justice Donal Deeny for making the correct decision.

    This gives us a much better chance at clawing back some of the wealth The Quinn family have hidden around the World. Every little helps.

    He was fooling no one and delighted that the judge also seen exactly what he was up to.


  • #14
    admiralofthefleet
    Closed Accounts Posts: 15,515 ✭✭✭✭admiralofthefleet


    will it actually make any difference?


  • #15
    oldyouth
    Closed Accounts Posts: 4,754 ✭✭✭oldyouth


    Time to secure all his remaining assets. I've an old laptop, has he any more hotels left to sell?


  • #16
    ilovesleep
    Closed Accounts Posts: 3,619 ✭✭✭ilovesleep


    Sean Quinn with his trait of greed helps to bankrupt Ireland with the rest at the top of the pyramid property scheme.

    Something that we will be paying for in many different ways for a very long time to come. Some but not all would include:
    Higher unemployment
    Financial hardship
    Higher taxes, less SW, less services
    Broken families due to emigration, suicide.

    Ireland allows these fcekers away scott free without any sort of justice (we have negligance laws that are not being used on these people) while the nation picks the tab and the pieces.

    Quinn flees Ireland to the north to shake off any remaining responsibilities.

    And it is other countries who come to our rescue for an ounch of justice.
    David Drumm fled Ireland to the USA and it was the USA that bit his ass.
    And it is the UK that is pinching Quinn's bum.


  • #17
    MagicSean
    Closed Accounts Posts: 9,897 ✭✭✭MagicSean


    I lol'd when i saw that headline


  • #18
    Biggins
    Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    admiralofthefleet wrote: »
    will it actually make any difference?

    In finance amounts, it won't really but a message has been made clear - you can be chased to other countries, across borders if you wish to try and escape any responsibilities/any consequences for previous possible questionable actions.


  • #19
    no1beemerfan
    Closed Accounts Posts: 1,714 ✭✭✭no1beemerfan


    Where I doubt it'll make any massive difference it still makes me a wee bit happier.

    It'll take a long time to fully realise the damage these guys have done.


  • #20
    Liam Byrne
    Closed Accounts Posts: 18,152 ✭✭✭✭Liam Byrne


    Biggins wrote: »
    admiralofthefleet wrote: »
    will it actually make any difference?

    In finance amounts, it won't really but a message has been made clear - you can be chased to other countries, across borders if you wish to try and escape any responsibilities/any consequences for previous possible questionable actions.

    What's the point in chasing them if they don't follow up by getting our money back ?


  • #21
    gigino
    Closed Accounts Posts: 2,350 ✭✭✭gigino


    Sean Quinn was bork in the UK and started his business in Fermanagh, which for tax reasons is part of the UK , like it or not. His business grew from Fermanagh. If he had stayed in Fermanagh and never stuck his snot south of the border , he'd be better off now. He fell in to the trap of invested in Anglo Irish bank in Dublin. Thats what he gets for mixing with high nobs in Dublin like Seanie Fitzpatrick. If he did not get involved in Seanies deal he would still be solvent. If our regulator has regulated Anglo Irish bank properly he would still be solvent.
    Moral of the lesson ; if he ever recovers from bankruptcy, Sean Quinn should stick to his home turf of N. Ireland and create jobs there. At least banks are properly regulated there.


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  • #22
    The Dagda
    Closed Accounts Posts: 1,344 ✭✭✭The Dagda


    gigino wrote: »
    Sean Quinn was bork in the UK and started his business in Fermanagh, which for tax reasons is part of the UK , like it or not. His business grew from Fermanagh. If he had stayed in Fermanagh and never stuck his snot south of the border , he'd be better off now. He fell in to the trap of invested in Anglo Irish bank in Dublin. Thats what he gets for mixing with high nobs in Dublin like Seanie Fitzpatrick. If he did not get involved in Seanies deal he would still be solvent. If our regulator has regulated Anglo Irish bank properly he would still be solvent.
    Moral of the lesson ; if he ever recovers from bankruptcy, Sean Quinn should stick to his home turf of N. Ireland and create jobs there. At least banks are properly regulated there.

    Yeah, the problem with the whole Sean Quinn fiasco was the country, Ireland, nothing to do with a massively wealthy man's bare-faced greed! :rolleyes:


  • #23
    Liam Byrne
    Closed Accounts Posts: 18,152 ✭✭✭✭Liam Byrne


    gigino wrote:
    Thats what he gets for mixing with high nobs in Dublin like Seanie Fitzpatrick. If he did not get involved in Seanies deal he would still be solvent.

    Are you trying to suggest that he didn't have free will to choose his own actions ?

    His wife tried that bull**** tack to evade her obligations and was rightly shot down.


  • #24
    Biggins
    Banned (with Prison Access) Posts: 34,567 ✭✭✭✭Biggins


    Liam Byrne wrote: »
    What's the point in chasing them if they don't follow up by getting our money back ?

    Don't get me wrong - I hope we DO get our money back - BUT even if we don't get it all back, it does let such people know that they just aren't going to stroll away from their actions as easy as they think they can.
    That in itself is a powerful message to others that they should behave.
    They might not all do so but if more do out of fear then, the message itself has done some good.


  • #25
    Sir Oxman
    Closed Accounts Posts: 8,490 ✭✭✭Sir Oxman


    gigino wrote: »
    Sean Quinn was bork in the UK and started his business in Fermanagh, which for tax reasons is part of the UK , like it or not. His business grew from Fermanagh. If he had stayed in Fermanagh and never stuck his snot south of the border , he'd be better off now. He fell in to the trap of invested in Anglo Irish bank in Dublin. Thats what he gets for mixing with high nobs in Dublin like Seanie Fitzpatrick. If he did not get involved in Seanies deal he would still be solvent. If our regulator has regulated Anglo Irish bank properly he would still be solvent.
    Moral of the lesson ; if he ever recovers from bankruptcy, Sean Quinn should stick to his home turf of N. Ireland and create jobs there. At least banks are properly regulated there.


    "The judge described the Derrylin lease as "a somewhat curious document".

    Justice Deeny added: "I conclude, on the balance of probabilities, that this lease has been prepared at some much later date to try and bolster the case now being made.""
    "He commented that Mr Quinn had failed to disclose the fact that he held an Irish passport and no UK passport, that he was a voter in the Republic of Ireland and that, despite being a UK taxpayer, 20% of his taxes were paid to the authorities in the Republic. "


    http://www.bbc.co.uk/news/uk-northern-ireland-16488305

    The NI court rightly were not fooled by his sickening weaseling and ruled his COMI was not in the UK.

    No need to fret gigino, Mr Quinn won't be knocking on the SVdeP's doors anytime ever.
    His family with the transfer of massive wealth to them for the purposes of hiding his own wealth, will look after daddy.

    BTW, this man has just cost Ireland another half a mill pursuing this travesty.

    I wonder who'll end up paying that?


  • #26
    twinytwo
    Registered Users, Registered Users 2 Posts: 5,612 ✭✭✭twinytwo


    gigino wrote: »
    Sean Quinn was bork in the UK and started his business in Fermanagh, which for tax reasons is part of the UK , like it or not. His business grew from Fermanagh. If he had stayed in Fermanagh and never stuck his snot south of the border , he'd be better off now. He fell in to the trap of invested in Anglo Irish bank in Dublin. Thats what he gets for mixing with high nobs in Dublin like Seanie Fitzpatrick. If he did not get involved in Seanies deal he would still be solvent. If our regulator has regulated Anglo Irish bank properly he would still be solvent.
    Moral of the lesson ; if he ever recovers from bankruptcy, Sean Quinn should stick to his home turf of N. Ireland and create jobs there. At least banks are properly regulated there.

    You do realise that he borrowed from AI to bet on/against their share prices???

    He has no one to blame but himself.


  • #27
    pazza
    Registered Users, Registered Users 2 Posts: 129 ✭✭pazza


    Anyone know what the difference with Sean Quinn and David Drumm is i.e. why is he allowed to have bankruptcy in the US, I would have though his " centre of main interest was in the Republic of Ireland and not " in the US?


  • #28
    Skid
    Closed Accounts Posts: 9,872 ✭✭✭Skid


    The full judgement is very readable and is quite entertaining.

    Quinn made a pig's ear of his application, the Judge tore it to shreds.

    http://namawinelake.files.wordpress.com/2012/01/quinnjudgmentbelfast.pdf


  • #29
    MagicSean
    Closed Accounts Posts: 9,897 ✭✭✭MagicSean


    Skid wrote: »
    The full judgement is very readable and is quite entertaining.

    Quinn made a pig's ear of his application, the Judge tore it to shreds.

    http://namawinelake.files.wordpress.com/2012/01/quinnjudgmentbelfast.pdf

    The judge accepted it. They declared him bankrupt. Anglo tore it to shreds and if it wasn't for their tenacity he would be laughing pretty. They may have made a balls up in the past but they deserve the credit for this.


  • #30
    JustAddWater
    Closed Accounts Posts: 1,990 ✭✭✭JustAddWater


    Skid wrote: »
    The full judgement is very readable and is quite entertaining.

    Quinn made a pig's ear of his application, the Judge tore it to shreds.

    http://namawinelake.files.wordpress.com/2012/01/quinnjudgmentbelfast.pdf

    JOHN IGNATIUS QUINN???

    :p:p:p:p:p:p:p:p:p:p:p:p:p:p:p

    *wwwwwwwwwwwaaaaaahhhhhhhhhhhhhhhhhhaaaaaaaaa*


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  • #31
    Stiffler2
    Banned (with Prison Access) Posts: 1,536 ✭✭✭Stiffler2


    HAHA

    hope they sell the socks off his feet


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